Legal Question in Real Estate Law in California
I want to purchase of a condo or house in CA. The purchase funds will come from from a family trust, the Trust will hold title, I am not the beneficiary of the trust, my name will not apper on title and I will not pay any rent.
In my circumstance, is there a blanket exception to standard CCR's that only allow owner-occupied properties?
1 Answer from Attorneys
I think more information is necessary in order for me to understand the proposed transaction. What is your relationship to this trust? If you aren't a beneficiary, are you the trustee? Why is the trust interested in acquiring real property for you -- perhaps just as an investment? Of course, one way to avoid the CC&R problem is for the trust to buy a condo or house where there are no CC&Rs;relating to owner-occupancy. Another approach would be to negotiate an understanding with the HOA or other organization promulgating or enforcing the CC&Rs;to the effect that your situation does not offend the CC&R.
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